Saturday, June 14, 2008

Bioinformatics Market Growth - Year wise

Bioinformatics Opportunities in India

Outsourcing to India, compared to other developed countries, offers about 30-40% costs savings in overall drug discovery research, and close to 60% cost savings when outsourcing core bioinformatics services. This is due to the lower wage costs for skilled manpower, and lower infrastructure costs.

The Indian bioinformatics market has grown from $18 million in 2003-04 to $35 million in 2006-07, at a CAGR of 25%. Interestingly, owing to low local demand, $32 million or about 90% of bioinformatics revenues in India are derived from outsourcing activities. "Local demand for bioinformatics services is low due to low investment in new drug discovery. Even though research investments of life sciences companies are increasing, they are still small compared to global standards" says Ashutosh Mundkur, VBU Life Sciences, Service Offerings, Satyam Computer Services Ltd.

The Indian bioinformatics outsourcing services opportunity is estimated to grow at 25% per annum during 2007-2010 raising its share of the global market from 1.4% in 2007 to 1.7% in 2010. These estimates are made based on the current plans of Indian vendors, as well as considering the impact of scarcity in human resources. Improved availability of skilled workers could help take growth rates higher. Similarly, positive actions by the Indian government to enhance IP rights could also help raise growth.


Indian Bioinformatics Market:


Pharmaceutical companies are under constant pressure to develop new “blockbuster” drugs to replace older ones that are going off patent. With costs to launch a new drug crossing $1 billion and the number of drugs approved for commercial launch decreasing, pharmaceutical companies are increasingly looking at biotechnology to deliver results.

The Indian bioinformatics industry comprises vendors with origins in the life sciences domain or the IT domain. We estimate that there are about 45-50 companies active in the bioinformatics segment in India. Of these, about 35 are involved in the development of software tools, database solutions and providing bioinformatics services; the remaining largely into marketing third party products and services.

2005 Report:

The global bioinformatics market is currently estimated at about $1.4 billion (€1.1 billion). It is expected to grow at an average annual growth rate of 15.8 per cent to reach nearly $3 billion by 2010

Pharmaceutical companies are expected to increase their R&D expenditure in the future. A major portion of this R&D spending is expected to go into bioinformatics. Global drug discovery spending is estimated to increase from $19.6 billion in 2002 to $25.1 billion in 2006.

Scientists are acquiring genomics data through the use of techniques such as amplification, DNA microarray expression, real-time PCR and genotyping. Instrumentation, hardware and software are then required to analyse, integrate and transmit this vast amount of data, which has resulted in significant IT challenges for those in the field.

The segment is estimated to grow at an average annual growth rate (AAGR) of 21.2 per cent from $444.7 million in 2005 to $1.16 billion in 2010. Growth in the genomics-based content will be the key driver for the rise in genomics-based analysis software and services segment.


References:
1. Drug Researcher

2. PharmaAsia

Friday, June 13, 2008

Bioinformatics Books Collection / Bioinformatics Book Collection.


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